Let's Do the Numbers

Four Quarters InterFaith Sanctuary
Financial Report for Fiscal 2008

Income and Expense by Category

Jan 1 to Dec 31
2006 2007 2008
Campground Services 6858 6090 8000
Church Ward Income 20408 26060 26400
Contributions 26022 22130 30100
Event Income 4QF 76140 89540 89600
Event Income-Outside 95350 98925 95580
Memberships 54950 50700 52000
Merch CC Income 3973 4285 5120
Other Income 2047 4940 3400
Winery   7000 7000
Total Income 285750 309700 317200
Agriculture 6555 2256 2675
Camp Equip+Repair 18814 12990 24970
Camp Improve 47992 54293 56510
Church Services 1523 468 100
ChurchWard Support 22840 27880 33295
Communications 22753 20194 22960
Community Service 560 550 500
Event Costs 4QF 24823 30880 34550
Event Costs-Outside 39683 48434 53155
Financial Fees 603 670 470
Insurance 8657 6750 6010
Loan-Mortgages 29325 29920 25895
Merchant CC Costs 5197 4250 5205
Office 5539 4488 3330
Other Expenses 7094 10234 9430
Professional/Legal   6400 1050
Transportation 14940 16600 14840
Utilities 23970 17860 16230
  2006 2007 2008
Total Expenses 280688 295117 311175
Total Income 285750 309700 317200

On the income side, it is first necessary to explain the effects of Gaian Mind on our financial statement. Four Quarters handled registrations for Gaian Mind, and all of those funds were deposited to our accounts before disbursal to Gaian Mind.

The outside event income figure of $95,580 is then largely the gross income from Gaian Mind registrations handled through the Four Quarters ticket desk, which was probably 90% of all Gaian Mind registrations. The outside event expense figure of $53,155 is largely the funds remitted to Gaian Mind from those registrations leaving about $40,000 as Four Quarters income from the event, which includes income from our meal plan and other campground fees.

In 2009 then, we will see a $95,000 reduction in total revenue, with a $40,000 reduction in actual income, constituting about a 15% drop in total income.

The Four Quarters Winery deposited a $7,000 profit to Church accounts in 2008, the same amount as in 2007. These numbers mask a very important development however. Beginning in 2008 the winery began wholesaling its wine through retail stores in Maryland, dropping its retail pricing by 30% and selling wholesale at one half of retail pricing. Sales have tripled and the winery reinvested those funds in greatly increased production capacity. We expect to see Church winery income at least double in 2009.

On the expense side, Camp Equipment + Repair reflects last years $8,000 purchase of the Logosol planer, to be used in this year’s dormitory construction. This category and Camp Improvements will certainly be less in 2009 with the loss of Gaian Mind income.

Church Ward Support increased due to (hopefully) one time medical costs. And with the increase in the number of summer interns, the actual  cost of support per person has decreased.

Mortgage payments have decreased, as we are now beyond the “sweet spot” on how much money is actually going to the principal vs. interest; at this point, the ratio is 65% principal to 35% interest. As of this writing, the mortgage balance is at $76,000.  Much Thanks to the Pledge Makers from all of us!

Communications are almost all the cost of distributing the Wheel of the Year Calendar, and here we are slashing costs for 2009 by returning to a black and white format, and eliminating distribution points outside of our core region.

And last, Transportation + Utilities. With rising carbon costs and our deep awareness of Peak Oil here on the Farm; we have worked very hard to tighten our carbon foot print. The results are in the numbers!    

As always the accounting system is open for Members to review, and we love questions!